Budget 2022: FM Sitharaman meets President Kovind ahead of budget presentation: Know significance

Besides Sitharaman, Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance also called on President Ram Nath Kovind.

New Delhi: Union Finance Minister Nirmala Sitharaman, on Tuesday (February 1), met President Ram Nath Kovind ahead of the Budget 2022-23 presentation President at the Rashtrapati Bhawan before heading to Parliament. 

Besides Sitharaman, Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance also called on President Kovind. 

For the unversed, it’s an established union budget tradition wherein the Finance Minister of India meets the President at the Rashtrapati Bhawan before heading to Parliament. 

According to the customs, the finance minister will have to attend the cabinet headed by India’s Prime Minister after meeting the President. The finance minister informs the cabinet about the budget during the meeting. 

Before the actual presentation of the Union Budget, the Cabinet headed by Prime Minister Narendra Modi will also have to approve the Budget for the financial year 2022-23. According to a report by ANI,  the meeting will be held at 10:10 am with the purpose to approve the Union Budget.

Sitharaman will start the Union Budget 2022-23 presentation at 11 am on February 1 in Lok Sabha. Sitharaman would present a paperless budget for the second time in the history of the country.

Union Budget is going to be Sitharaman’s fourth budget presentation. The finance minister is expected to will focus more on how the government balances out populist measures alongside walking the tightrope of fiscal consolidation.

Meanwhile, the Budget Session 2022 started on Monday, January 31, with the President addressing the Members of both the Houses after which the copies of his address were laid on the table. Also Read: Union Budget 2022 Live updates

Following the President’s address, Finance Minister Nirmala Sitharman had tabled the Economic Survey 2021-22 on Monday. Also Read: 5 interesting things about Nirmala Sitharaman’s Budget ever since she took charge as FM